British regulator slams brokers on best execution

British regulator has found firms are falling well short of their duties on best execution

The
Financial Conduct Authority has issued a scathing review into
the provision of best execution on trades by brokers to
professional and retail clients.

In its Thematic Review, which covered best
execution and Payment for Order Flow, the UK regulator said on
Thursday that firms "were still conducting only cursory reviews
of policy documents, which did not address the full scope of
their best execution obligations".